NEW DELHI: Reliance Industries Ltd (RIL) on Thursday reported record net profit of Rs 13,248 crore in June quarter after one-time gain from stake sale and bumper telecom revenues cushioned Covid-hit earnings from refining, petchem and retail segments.
The net profit in April-June was 30.6% higher than it was in the same period a year ago, and bettered the company’s previous best of Rs 11,640 crore earning in October-December 2019, the company said.
The conglomerate said it had a one-time gain of Rs 4,966 crore from sale of 49% stake in fuel retailing venture to BP plc. This together with 183% jump in Jio’s standalone net profit to Rs 2,520 crore covered up drop in earnings from mainstay segments.
Source: Press Trust of India
